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Forex trader news: Sterling falls against euro

Forex trader news: Sterling falls against euro
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Forex traders saw sterling fall against the euro this morning (October 20th) following the release of the Bank of England (BoE) minutes.

The pound reached the day's low against the single currency - which jumped around 30 pips to 88.10 pence - after the documents revealed that a vote for further quantitative easing had been received by one policymaker, Reuters reports.

And it was noted that one member argued in favour of a rate rise, but the seven others opted to remain on policy.

What's more, an increase in public borrowing in September was also revealed in the document.

Ian Stannard, senior currency strategist at BNP Paribas, said: "The minutes put the BoE clearly into the dovish camp and suggest the Monetary Policy Committee is becoming more dovish, putting further pressure on the pound."

This news comes after sterling fell against the dollar by 0.4 per cent at $1.5835 yesterday morning, the news provider reported.

Posted by Chris WeaverADNFCR-1681-ID-800126233-ADNFCR